Last $57.17 USD
Change Today +0.88 / 1.56%
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As of 8:10 PM 12/19/14 All times are local (Market data is delayed by at least 15 minutes).

comcast corp-class a (CMCSA) Key Developments

Comcast Faces Lawsuit over Home Wi-Fi Hotspots

Comcast announced that two East Bay residents are suing the company for plugging their homes wireless router into what they call a power-wasting, Internet-clogging, privacy threatening network of public Wi-Fi hotspots. The class-action suit, filed last week in U.S. District Court in San Francisco on behalf of Toyer Grear and daughter Joycelyn Harris, claims Comcast is exploiting them for profit by using their Pittsburg homes router as part of a nationwide network of public hotspots. The suit quotes a test conducted by Philadelphia networking technology company Speedify that concluded the secondary Internet channel will eventually push tens of millions of dollars per month of the electricity bills needed to run their nationwide public Wi-Fi network onto consumers. Tests showed that under heavy use, the secondary channel adds 30% to 40% more costs to a customer’s electricity bill than the modem itself. The data and information on a Comcast customer’s network is at greater risk because the hotspot network allows strangers to connect to the Internet through the same wireless router used by Comcast customers. Although Comcast has said it has enough bandwidth to handle the extra traffic, the suit claims Grear and Harris have suffered from decreased, inadequate speeds on their home Wi-Fi network. The suit asks for unspecified damages and an injunction preventing Comcast from using home wireless routers for its hotspot network.

T-Mobile Could Attract Buyers Again

T-Mobile US, Inc. (NYSE:TMUS) remains an attractive asset for other potential suitors, according to Deutsche Telekom AG (DB:DTE). Companies that could seek to control of T-Mobile US include Comcast Corporation (NasdaqGS:CMCS.A), America Movil S.A.B. de C.V. (BMV:AMX L) and Dish Network Corp. (NasdaqGS:DISH), Deutsche Telekom Chief Executive Officer Timotheus Hoettges said. Representatives for Dish, T-Mobile and Comcast declined to comment. A press official for America movil didn’t respond to a request for comment.

Comcast Corporation Appoints Devesh Raj as Senior Vice President of Strategic and Financial Planning

Comcast Corporation announced that Devesh Raj has joined the company as Senior Vice President of Strategic and Financial Planning. In this role, Raj will help drive the overall growth strategy at Comcast and NBCUniversal, including leading the identification and pursuit of strategic business opportunities, partnerships, alliances, and licensing agreements. Prior to joining Comcast, Raj spent the past 14 years at The Boston Consulting Group (BCG) in New York where he served as a Senior Partner and Managing Director leading the firm's Telecommunications, Media, and Technology practice in North America.

Comcast Announces Expansion Plans in Hillsboro, Oregon

As part of its ongoing commitment to provide an outstanding customer experience, Comcast Cable announced the grand opening of two new businesses that will bring it even closer to its customers -- a new XFINITY Store, as well as plans for a new data center in Hillsboro, Oregon. Comcast celebrates the Grand Opening of its new XFINITY store in Hillsboro. The new store is in addition to the four existing XFINITY customer experience stores in the Oregon/SW Washington area, adding twelve jobs to Hillsboro. The new site brings the total customer service store locations to 13. Combined, these stores employ more than 100 Comcast employees. The new 4,200 square foot store is designed entirely around the needs of customers and provides Comcast customers with an opportunity to explore, learn and interact directly with the latest XFINITY products and services, including Comcast's lightning-fast broadband, the X1 operating system and the latest in home security.

Federal Communications Commission's Enforcement Bureau Issues Protective Order Regarding Applications of Comcast Corp. and Time Warner Cable Inc. and AT&T, Inc. and DIRECTV

Federal Communications Commission's Enforcement Bureau issues protective order regarding applications of Comcast Corp. and Time Warner Cable Inc. and also AT&T, Inc. and DIRECTV. For consent to assign or transfer control of licenses and authorizations, MB Docket No. 14-57 and MB Docket No. 14-90, respectively. About four weeks ago, numerous content companies filed an Application for Review challenging Media Bureau orders. In that Application for Review, they argued that the Bureau did not provide sufficient protection to highly sensitive proprietary commercial information contained in the companies' affiliation and distribution agreements with Comcast, Time Warner Cable, Charter, AT&T, and DIRECTV. The agency's leadership, however, did not allow the Commission to resolve that Application for Review. Instead, in a highly irregular maneuver, the Media Bureau issued an Order on Reconsideration on November 4, 2014, rejecting the arguments in the Application for Review. Moreover, it modified the protective orders applicable to these proceedings to take away the content companies' due process rights. Specifically, prior to November 4, 2014, no party could access highly sensitive information while an objection to such disclosure remained under review by the Commission or by a court--a policy consistent with prior Commission practice. Under the modified protective order, however, parties now may obtain access to information five business days after the Bureau rejects an objection. It was not given any advance notice that the Bureau was planning to issue these decisions responding to the Application for Review.


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